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Indian Companies Invested Over $4 Billion in South Africa, says CII

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.

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PwC Chief Executive (Southern Africa) Dion Shango said:
Companies, representational image, Pixabay
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Indian companies have invested over $4 billion in South Africa and created 18,000 direct jobs in the continent’s biggest economy, the Confederation of Indian Industry (CII) said on Sunday

According to a new CII report “Indian Industry’s Inclusive Footprint in South Africa – Doing business, doing good”, prepared jointly with British advisory multinational Pricewaterhouse Coopers (PwC), there are 140 Indian companies operating in South Africa whose contributions go beyond foreign direct investment (FDI) in the country, and include key CSR and skill development initiatives.

“Indian companies operating in South Africa are not just investing funds and creating jobs, but are actively contributing to the upliftment of the communities in which they operate,” a CII release said here.

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.
Indian companies invest in South Africa, pixabay

“In the healthcare sector, the entry of Indian pharma companies Ranbaxy and Cipla brought in drastic reduction in the cost of anti-retroviral drugs in South Africa, saving thousands of lives. Indian companies are taking steps to transfer skills to South Africans, particularly in the IT sector,” it said.

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In a statement, CII Director General Chandrajit Banerjee said: “The report highlights the journey of the historic and economic relationship between India and South Africa, looking at the key sectors where Indian companies are thriving.”

PwC Chief Executive (Southern Africa) Dion Shango said: “Indian companies are demonstrating their commitment to sustainable development in South Africa across education and healthcare schemes to job creation, agricultural projects and empowering women.”

A focus on ethical business practice comes through in the report, as this is of critical importance for Indian companies operating in South Africa, the statement added. (IANS)

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Intel Becomes Savior Of Exploited Workers

In recent years modern slavery has increasingly come under the global spotlight

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Intel CEO Brian Krzanich delivers a keynote speech at CES International, Jan. 8, 2018, in Las Vegas.
Intel CEO Brian Krzanich delivers a keynote speech at CES International, Jan. 8, 2018, in Las Vegas. VOA

Intel topped a list issued on Monday ranking how well technology companies combat the risk of forced labor in their supply chains, overtaking HP and Apple.

Most of the top 40 global technology companies assessed in the study by KnowTheChain, an online resource for business, had made progress since the last report was published in 2016. But the study found there was still room for improvement.

“The sector needs to advance their efforts further down the supply chain in order to truly protect vulnerable workers,” said Kilian Moote, project director of KnowTheChain, in a statement.

Intel, HP and Apple scored the highest on the list, which looked at factors including purchasing practices, monitoring and auditing processes. China-based BOE Technology Group and Taiwan’s Largan Precision came bottom.

Workers who make the components used by technology companies are often migrants vulnerable to exploitative working conditions, the report said.

About 25 million people globally were estimated to be trapped in forced labor in 2016, according to the International Labor Organization and rights group Walk Free Foundation.

Laborers in technology companies’ supply chains are sometimes charged high recruitment fees to get jobs, trapped in debt servitude, or deprived of their passports or other documents, the report said.

It highlighted a failure to give workers a voice through grievance mechanisms and tackle exploitative recruiting practices as the main areas of concern across the sector.

In recent years modern slavery has increasingly come under the global spotlight, putting ever greater regulatory and consumer pressure on firms to ensure their supply chains are free of forced labor, child labor and other forms of slavery.

From cosmetics and clothes to shrimp and smartphones, supply chains are often complex with multiple layers across various countries — whether in sourcing the raw materials or creating the final product — making it hard to identify exploitation.

Overall, large technology companies fared better than smaller ones, suggesting a strong link between size and capacity to take action, the report said. Amazon, which ranked 20th, was a notable exception, it said.

“Top-ranking brands … are listening to workers in their supply chains and weeding out unscrupulous recruitment processes,” Phil Bloomer, head of the Business & Human Rights Resource Center, told the Thomson Reuters Foundation.

intel technology
intel technology, pixabay

A spokesman for Amazon said the report drew from old and incomplete information and failed to take into account recently launched anti-slavery commitments and initiatives.

HP said it regularly assessed its supply chain to identify and address any concerns and risks of exploitation.

“We strive to ensure that workers in our supply chain have fair treatment, safe working conditions, and freely chosen employment,” said Annukka Dickens, HP’s director for human rights and supply chain responsibility.

Also read: Another Security flaw is Revealed By Intel in its Chips

Intel, Apple, BOE Technology and Largan Precision did not immediately respond to requests for comment. (VOA)